-
Business Loans
Hi, I hope I am posting this in the right section - apologies if not. I'm starting up a limited company virtually imminently due to my current employer winding the business down, and offering me a package to take some clients/computers/other stuff to help get me started. I've wanted to work for myself since starting work,…
-
Freelancer: Client closing down and not paying me.
I'm a freelance creative and this summer I got approached by a client (I won't go into details but it's a known brand) for promotional video for socials. After a few back and forth discussing the ideas and budget we agreed on style and cost - so I was ready to get to work. I follow their requirements and execute the video…
-
Starting a sole trader business whilst still employed - Tax offsets
Hi All, I've been taking the advice on the pensions forum for many years now, and think I'll be able to retire later next year. I am planning to start a local tech support business and have a few questions - I hope this is the correct forum - it seems to be from looking at other posts, but please flame away if I'm taking…
-
please help advice required ( i think this is still in the wrong section)
hi i have been reading the blogs (hope i am posting this is the right section) and i am now starting to worry , i started a small business at home making things for pets and selling them online it has taken off a lot better then i expected in such a short time, started in June this year 2021. Next year i am hoping to do…
-
Director Salary Optimisation
Our situation: Husband and wife, both directors, both 50% owners. Our startup now has income and we want to start withdrawing. Wife has no income this year Husband has 30k taxable from previous job 1. From what I've read, we get employers allowance on NI up to 4k (is this corrrect?) 2. This ^^ means optimal salary is using…
-
Tax return question
I set up a little Etsy shop last year selling crystals. I spent a lot setting it up and I spent more than I made. I didn’t think to register with HMRC as someone told me I didn’t need to do a tax return as I was earning such a tiny amount. Then I wasn’t well during the pandemic with my mental health and it all went out of…
-
Accountant and accounting software
I've been a sole trader for 5 years or so using a chartered accountant for advice and preparing and filing my tax return. This requres me to download, copy and paste my business accounts each month from my online banking into an excel spreadsheet then allocating each incoming and outgoing amount into its appropriate…
-
Shared live hosts (self employed) & SMP from employment at same time
Last year, my wife & I become shared live hosts. This is very similar to fostering, but instead of children, it’s adults. We are just about to register as self employed. However, during this, my wife went on maternity leave from her employment due to pregnancy and received statutory maternity leave. Will this affect…
-
Tax and things able to claim back for small biz
Hello Currently working full time 36h week on a salary. But during covid due to limited overtime I started buying pallets of coal and logs and bought a van to do delivery's over the weekends for some extra income. Not huge profit margins but anything helped I understand I only pay take on the profit I have made so can sort…
-
Annual accounts question
I setup a limited company last year with the intention of buying property and then letting it. Once the company was formed, I loaned money from my IT limited company to this buy to let company. But due to various reasons including lockdowns, covid etc... I was not able to buy a property. Considering my situation I am not…
-
Suppliers and credit card payments in small business accounting
Hi all, Forgive my ignorance on such matters, I should point out my knowledge on accounting is near zero. I've been part of a partnership in a small family business for many years, but are taking over more day to day running of things and accounts as my parents are retiring and having little or no involvement. Previously,…
-
Best business credit card for international transactions
Hi guys, looking for some help with this. I am on the lookout for a credit card where there are no international transaction fees. I just need to be able to make payments to a supplier based in China. If you have any experience of one, please do share. I have done a lot of google searches and I am unable to find one that…
-
Sole trader - cancel O2 mobile business contract
Hi All, My wife is a sole trader who's business launched 6 weeks prior to Covid restrictions being imposed last year at the first lock down. At the beginning of lockdown O2 paused her contract payments for the line rental and she continued to pay the finance back for the purchase of the handset. Her business never really…
-
Mail from Companies House not for me
Over the last 3 weeks I’ve had several letters from Companies House/HMRC come through for a new clothing company, in the name of one of the sons of my houses previous owners. I bought the house in November 2014, 7 years ago from this persons parents. I emailed Companies House and explained, they said they don’t have the…
-
Office Bathroom
I am about to move into my first office. The building is unmanaged and so I have to sort out the cleaning/suppliers and everything else myself. I just want to make sure I don't miss out on any important laws when it comes to providing my employee's toilets but also want to make sure I don't have to pay a fortune for it.…
-
Business Partnership - only earned 500 - do we need to submit tax return
My friend and I registered as a business partnership last year. I was sent the self assessment tax return paperwork for 2020/21 for the partnership and for myself as a sole trader forming one half of the partnership. In that period we only earned 500 (so 250 each as no expenses) which I believe is under the 1000 self…
-
Does the OFGEM price cap apply to business tariffs?
My energy contracts are due for renewal. Unfortunately I am not in a position to sign more than a one year contract because my premises lease needs to be renegotiated with new owners, and the cancellation clauses on the 2 or 3 year energy deals I have been offered are onerous. I suspect I may be better off staying on "out…
-
Cheaper international transfers from USA to UK?
Hi all. Not sure if this is the right subforum, it seemed like the closest to the subject I do lots of freelance work for americans, despite living in the UK. They typically pay me by sending money through paypal. We have both grown rather annoyed at the high fees paypal charges though, both for the transfer itself, and…
-
Can someone with company tax knowledge answer these questions
Soletrader If I use £7k personal allowance of the £12k tax free, can I
carry that £5k over to the next year? Company When you take out directors’ loan, how do you pay that back,
with salary? What the difference between capital gain loss under company
or personal? If you loan money from one company to another company,…
-
Trademark
Hi,I was just inerested in this, so there is a bar that opened about 2014 called Peaky Blinders, which was obviously took from the tv series in america.The bar was on UK TV show on hotel inspector where someone comes in and helps start a business. A year later it opened the USA tv series sent a letter to take this name…